Patrick J. Sheehan Purchases 8,938 Shares of Berkshire Hills Bancorp, Inc. (BHLB) Stock

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Director Patrick J. Sheehan purchased 8,938 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was bought at an average cost of $37.11 per share, with a total value of $331,689.18. Following the acquisition, the director now owns 1,168 shares of the company’s stock, valued at approximately $43,344.48. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shares of Berkshire Hills Bancorp, Inc. (BHLB) traded up $0.40 during trading on Tuesday, hitting $37.05. 314,184 shares of the company traded hands, compared to its average volume of 227,995. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.33. Berkshire Hills Bancorp, Inc. has a 12-month low of $32.85 and a 12-month high of $40.00. The stock has a market capitalization of $1,727.81, a PE ratio of 24.76 and a beta of 0.70.

Berkshire Hills Bancorp (NYSE:BHLB) last issued its earnings results on Thursday, January 25th. The savings and loans company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.01. Berkshire Hills Bancorp had a net margin of 11.37% and a return on equity of 7.44%. The firm had revenue of $115.66 million during the quarter, compared to analysts’ expectations of $115.50 million. analysts predict that Berkshire Hills Bancorp, Inc. will post 2.72 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Wednesday, February 14th. This is a boost from Berkshire Hills Bancorp’s previous quarterly dividend of $0.21. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is 56.76%.

Institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. increased its holdings in Berkshire Hills Bancorp by 11.3% in the second quarter. Ameritas Investment Partners Inc. now owns 3,121 shares of the savings and loans company’s stock valued at $110,000 after buying an additional 318 shares in the last quarter. Quantbot Technologies LP purchased a new position in Berkshire Hills Bancorp in the second quarter valued at $112,000. Royal Bank of Canada increased its holdings in Berkshire Hills Bancorp by 4.3% in the second quarter. Royal Bank of Canada now owns 5,155 shares of the savings and loans company’s stock valued at $182,000 after buying an additional 212 shares in the last quarter. FDx Advisors Inc. purchased a new position in Berkshire Hills Bancorp in the third quarter valued at $217,000. Finally, Gamco Investors INC. ET AL purchased a new position in Berkshire Hills Bancorp in the third quarter valued at $233,000. 66.82% of the stock is owned by hedge funds and other institutional investors.

BHLB has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, October 24th. BidaskClub cut shares of Berkshire Hills Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Piper Jaffray Companies reissued a “buy” rating and set a $42.50 target price on shares of Berkshire Hills Bancorp in a report on Tuesday, January 9th. Finally, Jefferies Group reissued a “hold” rating and set a $40.00 target price on shares of Berkshire Hills Bancorp in a report on Wednesday, October 11th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $41.30.

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Berkshire Hills Bancorp Company Profile

Berkshire Hills Bancorp, Inc (Berkshire) is a holding company for Berkshire Bank (the Bank) and Berkshire Insurance Group. Berkshire offers a range of deposit, lending, insurance and wealth management products to retail, commercial, not-for-profit and municipal customers in its market areas. Berkshire product offerings also include retail and commercial electronic banking, commercial cash management and commercial interest rate swaps.

Insider Buying and Selling by Quarter for Berkshire Hills Bancorp (NYSE:BHLB)

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